Bank of Nova Scotia Purchases 22,142 Shares of Trimble Inc. (NASDAQ:TRMB)

Bank of Nova Scotia lifted its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 70.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,390 shares of the scientific and technical instruments company's stock after purchasing an additional 22,142 shares during the quarter. Bank of Nova Scotia's holdings in Trimble were worth $3,773,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. KBC Group NV boosted its stake in Trimble by 81.9% in the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock worth $11,279,000 after buying an additional 71,891 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Trimble by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company's stock valued at $46,594,000 after purchasing an additional 136,452 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Trimble by 5.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock worth $26,560,000 after purchasing an additional 17,785 shares during the period. Wellington Management Group LLP boosted its position in Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after buying an additional 5,472 shares during the period. Finally, Oak Thistle LLC purchased a new position in shares of Trimble in the fourth quarter worth about $406,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Down 0.1 %

Shares of TRMB traded down $0.05 on Friday, reaching $58.23. The stock had a trading volume of 1,252,181 shares, compared to its average volume of 1,396,295. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The firm has a market capitalization of $14.31 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The company has a 50-day simple moving average of $67.11 and a 200-day simple moving average of $68.91.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Oppenheimer boosted their price objective on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. StockNews.com cut shares of Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a report on Thursday, February 20th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $86.00.

Insider Buying and Selling at Trimble

In other news, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares of the company's stock, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Insiders own 0.47% of the company's stock.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.